Wynn Resorts Ltd. (NASDAQ:WYNN)’s share price dropped 3.8% during trading on Wednesday . The company traded as low as $92.61 and last traded at $92.74, with a volume of 3,121,106 shares changing hands. The stock had previously closed at $96.39.

WYNN has been the subject of a number of research analyst reports. Zacks Investment Research cut Wynn Resorts from a “buy” rating to a “hold” rating in a report on Monday, May 2nd. Vetr cut Wynn Resorts from a “strong-buy” rating to a “buy” rating and set a $103.68 target price for the company. in a report on Monday, May 2nd. JPMorgan Chase & Co. restated an “overweight” rating on shares of Wynn Resorts in a report on Thursday, May 5th. Bank of America Corp. restated a “hold” rating and set a $110.00 target price on shares of Wynn Resorts in a report on Friday, May 6th. Finally, Gabelli restated a “buy” rating on shares of Wynn Resorts in a report on Sunday, May 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $97.33.

The firm has a 50 day moving average of $97.19 and a 200 day moving average of $92.11. The firm has a market cap of $9.18 billion and a price-to-earnings ratio of 28.00.

Wynn Resorts (NASDAQ:WYNN) last announced its quarterly earnings data on Thursday, July 28th. The casino operator reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.91 by $0.16. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.74 EPS. On average, equities research analysts forecast that Wynn Resorts Ltd. will post $3.81 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 23rd. Shareholders of record on Thursday, August 11th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Tuesday, August 9th.

An institutional investor recently raised its position in Wynn Resorts stock. Stephens Inc. AR boosted its stake in shares of Wynn Resorts Ltd. (NASDAQ:WYNN) by 183.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,928 shares of the casino operator’s stock after buying an additional 18,058 shares during the period. Stephens Inc. AR’s holdings in Wynn Resorts were worth $1,932,000 as of its most recent SEC filing.

Wynn Resorts, Limited is a developer, owner and operator of destination casino resorts that integrate accommodations and a range of amenities, including dining outlets, retail offerings, entertainment theaters and meeting complexes. The Company operates through two segments: Macau Operations and Las Vegas Operations.

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